Deciding to gamble online using bitcoin is overwhelming. The decision must not be taken lightly. You need to have basic knowledge about bitcoin and online gambling. Gaining education may seem more work, but it will certainly pay off.
- Bitcoin is an unregulated and decentralized digital currency. It means it isn’t controlled or managed by any country or banking authority.
- Digital currency means it is intangible and invisible. Its operation depends on cryptography and algorithms. You don’t need to do the math to use it daily.
- Blockchain technology is employed to keep information and transactions secure. The moment a block is added, no one can penetrate or reverse it. If someone tampers it, the entire blockchain collapses, which is a great security measure. Today, blockchain tech is employed in hospitals and other sectors for record security.
- The value of BTC fluctuates dramatically and so it is crucial to check its value before you start wagering. It gives you an idea of the amount to bet and what will be your winnings.
Reasons bitcoin casinos are popular
Playing in crypto casinos is advantageous to gamblers, who prefer privacy and anonymity. Government organizations are unable to trace deposits made using bitcoin. Your gambling activities stay under the radar. Check the list of best bitcoin gambling sites on Bitone Core to make an informed decision after comparing the offered features.
Another reason is that you can make deposits and withdrawals using BTC in bitcoin-only casinos. There are online casinos that accept deposits using a credit card and allow withdrawals in BTC and vice versa.
Bitcoin casinos offer provably fair games, so players can enjoy wagering without concerns about the high percentage of the house edge. Blockchain is used, which allows the gambling house and user to access information if necessary to prove the game was fair. This is a huge issue the online gambling landscape was struggling with that got solved with blockchain technology.
When you play online casino the transaction fees can accumulate and over time you will need to repay significantly. Unlike banking or credit cards, the transaction fee associated with bitcoin payment is extremely low, which appeals to the majority of people.
Lately, bitcoin value has skyrocketed and grabbed the attention of investors and many people. Since its introduction in 2009, more than 18 million bitcoins have been mined and its limitation is 21 million. Therefore, people believe that the value of bitcoin will jump extremely high. People are using online casinos to earn a few bitcoins.
How to select a reliable bitcoin casino?
Due to its increasing fame, it is imperative to determine a guideline on how to choose a trustworthy bitcoin casino.
Check the security percentage
Evaluate the risk factors and choose the one with a high reliability percentage.
- Gain knowledge about the potential casino
- Confirm its credibility
- Analyze its statistics to gain an insight into its market status
- Double-check its reputation
- Read reviews
- Understand the terms and conditions
Is the casino capable of payout?
Everything seems good but bitcoin casinos struggle with one issue and that is lack of funds. Therefore, if you win big, the payout can be an issue. Reliable and established gambling sites rarely struggle with lack of funds but small casinos may tussle with cash flow. There is a possibility that they may not speak clearly about their financial status. You can check the withdrawal limit on their website before signing.
Does the potential casino offer the games you prefer?
Each player has some games they prefer more and you are not an exception. You may have a few favorites that you desire to look forward to playing. There are wide casino games available and you will need to search around to find your preferred ones.
What precaution to take while considering welcome bonuses?
The online gambling sector is competitive, so casino owners offer welcome bonuses to attract players. It can be in the form of free spins or money after sign up. Acquiring a bonus or spins increases your chance to win. As people have abused these promotional bonuses, gambling site owners placed some stipulations. Check the terms and conditions before you open an account. Understand the T&Cs clearly because you don’t desire to accidentally end up in a dilemma.
Is the site user-friendly?
When you feel confident about the gambling site’s authenticity, check its design and usability. The online casino needs to have an aesthetically pleasing and easily navigable framework as it can make a huge difference in your playing experience. Good casinos ensure to have a website professionally designed with every detail in mind so that even non-tech players can easily gain access to what they came in seek for.
How is the customer service?
Before opening an account, check the customer service. If you receive a quick and professional answer on live chat from a friendly representative, it ensures your queries will be resolved with devotion. Even when you read reviews check with what customers have to say about customer support. It is essential if you desire to report some tech issue or discuss T&Cs.
A background check of the potential bitcoin casino is crucial. Choose a proven, reputed, and recommended casino. Gain familiarity with its guidelines. However, before you get registered at a bitcoin casino there will be a need to choose an appropriate bitcoin wallet to store your BTC. It is crucial to protect your bitcoins from getting stolen or hacked.
Bitcoin wallet options
Online exchange wallet
It is the least secure wallet type easily accessible at major exchange sites. They are convenient for regular exchange users. It is a risky option for a primary wallet.
Online 3rd party wallets
Most of the convenience associated with online exchange wallets is offered by 3rd party wallets. However, your keys and passwords are stored on this 3rd party site, which makes your bitcoins vulnerable in case the wallet site is hacked. In terms of safety, it is a better option, but you cannot use it as a primary wallet.
The safest alternative but you cannot access them with ease like the above two options. Bitcoins can be used only when the hardware wallet is connected to your computer. It is a great option for primary wallets, where the majority of BTCs are stored offline. You can transfer some BTC to an online wallet [a secondary wallet], which allows you to access it with ease. It even helps to control your online gambling habits.
Enjoy a stress-free and fun casino experience!